Pet retail chain Jollyes has purchased Bannerbrook Pets in Coventry for an undisclosed sum.
Established by entrepreneurs Steve Teasdale and Andy Gattner in 2004, the Bannerbrook Pets store in Gramercy Park, Banner Lane, has built up a loyal customer following in Tile Hill, Coventry, focusing on customer service and hard-to-find premium brands.
The acquisition brings together two businesses dedicated to high quality and personal service for owners and their pets.
The agreement to purchase Bannerbrook Pets is the latest move by Kester Capital-backed Jollyes to accelerate its growth plans.
It follows the acquisition in October of The Pet Store and its three locations in Yorkshire.
Customers at Bannerbrook Pets will still be able find the same ranges they’ve come to appreciate, with advice provided by its expert staff.
From left: Andy Gattner, Joe Wykes of Jollyes and Steve Teasdale
Richard Cotter, executive chairman of Jollyes said: “Steve and Andy have built up a fantastic business and one that has developed a dedicated customer base in the area.
“While we’ve moved quickly, the acquisition is the culmination of weeks of detailed negotiations to make sure that Steve and Andy were comfortable with the deal.
“We’re excited about this latest addition to our family which marks another big step in our growth plans and brings Jollyes to a new Midlands location.”
Steve and Andy had two stores in Bedworth, Warwickshire, when the opportunity came up to combine them into one by moving into the 3,000 square feet store on the site of a former tractor factory in Banner Lane where they have been running the business since 2011.
Steve and Andy said: “All of us at Bannerbrook Pets are looking forward to wearing the iconic Jollyes red fleece. Over the course of the last few months, we’ve got to know the Jollyes team well and they’ve been fantastic to deal with during this whole process.
“It was very important to us to find a buyer that shared the same culture and values as we do and we’re looking forward to working with them as they take the business on to the next level.”
Bannerbrook Pets will complement Jollyes’ existing Midlands outlets in Willenhall, Cannock and Kettering.
In its most recent quarter, Jollyes delivered 21% like-for-like growth compared to the same period in 2019.
All regions across the UK have seen double-digit growth with a particularly exceptional performance in Northern Ireland.
For the 12 months to May 2021, revenue increased 13% to £77m compared to 2020, as new lockdown pet owners made Jollyes their favourite local pet store – a trend that’s accelerated in the past three months.
It has achieved five-star Trust Pilot ratings for 23 stores and an average 4.7 score across the Jollyes estate, underlining its commitment to the highest standards of customer service.
Following this investment, Jollyes expects to open more new stores through both the targeted strategic acquisition of smaller pet retailers and taking on new leases in carefully thought-through locations across Great Britain and Northern Ireland.
